Goldman Sachs Group GS Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Non-interest revenues by Business | ||||||
| Asset & Wealth Management | $3.37B+13.8% | $3.93B-2.7% | $3.32B+9.8% | $2.99B-6.1% | $2.97B-5.3% | |
| Global Banking & Markets | $10.55B+13.6% | $8.21B+8.2% | $8.15B+6.2% | $8.58B+13.2% | $9.29B-3.9% | |
| Platform Solutions | -$255M-177% | -$2.39B-2,340% | -$136M+60.3% | -$96M-300% | -$92M— | |
| Total net revenues by Business | ||||||
| Asset & Wealth Management | $4.08B+9.9% | $4.82B-1.5% | $4.4B+17.2% | $3.78B-2.6% | $3.71B-2.1% | |
| Global Banking & Markets | $12.74B+18.6% | $10.51B+22.2% | $10.12B+18.2% | $10.12B+23.7% | $10.74B+10.4% | |
| Platform Solutions | $411M-32.6% | —— | $670M+71.4% | $685M+2.4% | $610M-12.6% | |
| Net earnings by Business | ||||||
| Asset & Wealth Management | $807M+15.0% | $1.07B-33.8% | $871M+13.6% | $642M-8.3% | $702M+1.4% | |
| Global Banking & Markets | $4.76B+19.4% | $3.37B+28.1% | $3.26B+22.8% | $3.13B+27.3% | $3.99B+12.9% | |
| Platform Solutions | $65M+30.0% | $175M+228% | -$30M+93.0% | -$47M+59.1% | $50M+154% | |
| Net earnings to common by Business | ||||||
| Asset & Wealth Management | $770M+14.2% | $1.04B-34.6% | $828M+13.9% | $596M-11.4% | $674M+3.2% | |
| Global Banking & Markets | $4.57B+18.4% | $3.18B+28.2% | $3.07B+23.3% | $2.93B+25.4% | $3.86B+14.4% | |
| Platform Solutions | $59M+31.1% | $168M+217% | -$38M+91.3% | -$56M+53.3% | $45M+145% | |
| Net Interest Income by Business | ||||||
| Asset & Wealth Management | $704M-5.5% | $891M+4.5% | $1.08B+47.6% | $786M+13.6% | $745M+13.2% | |
| Global Banking & Markets | $2.19B+50.9% | $2.31B+125% | $1.96B+123% | $1.54B+154% | $1.45B+2,739% | |
| Platform Solutions | $666M-5.1% | $511M+9.0% | $806M+9.8% | $781M+12.7% | $702M+5.6% | |
| Total pre-tax earnings by Business | ||||||
| Asset & Wealth Management | $930M+11.1% | $1.36B-34.5% | $1.14B+11.9% | $845M-6.0% | $837M-4.6% | |
| Global Banking & Markets | $5.48B+15.4% | $4.28B+27.3% | $4.3B+21.6% | $4.17B+31.8% | $4.75B+6.1% | |
| Platform Solutions | $75M+27.1% | $222M+228% | -$39M+93.0% | -$57M+61.2% | $59M+150% | |
| Total Assets by Business | ||||||
| Asset & Wealth Management | $211.27B— | $198.57B+6.2% | $206.93B— | $199.26B— | —— | |
| Global Banking & Markets | $1.82T— | $1.58T+8.3% | $1.54T— | $1.52T— | —— | |
| Platform Solutions | $28.64B— | $28.08B+2.3% | $65.43B— | $61.12B— | —— | |
| Goodwill by Business | ||||||
| Asset management | $2.1B— | $1.46B+7.1% | $1.46B— | $1.46B— | —— | |
| Equities | $2.65B— | $2.65B0.0% | $2.65B— | $2.65B— | —— | |
| Global Markets Fixed Income Currency and Commodities | $269M— | $269M0.0% | $269M— | $269M— | —— | |
| Investment banking | $267M— | $267M0.0% | $267M— | $267M— | —— | |
| Wealth Management | $1.31B— | $1.31B0.0% | $1.31B— | $1.31B— | —— | |
| Average common equity by Business | ||||||
| Asset & Wealth Management | $23.06B-6.4% | —— | $26.13B-1.3% | $26.05B0.0% | $24.63B— | |
| Global Banking & Markets | $82.1B+3.2% | $1.74B+6.4% | $78B+2.6% | $78.24B+2.8% | $79.56B— | |
| Platform Solutions | $3.74B-16.6% | —— | $4.23B-6.2% | $4.41B+1.5% | $4.49B— | |
| Compensation and benefits by Business | ||||||
| Asset & Wealth Management | $1.83B+11.3% | $2.1B+28.0% | $1.98B+22.3% | $1.71B+0.6% | $1.64B+2.0% | |
| Global Banking & Markets | $3.42B+10.1% | $2.58B+21.3% | $2.56B+8.2% | $2.84B+18.2% | $3.11B+13.1% | |
| Platform Solutions | $160M+30.1% | $47M— | $134M+1.5% | $145M-0.7% | $123M— | |
| D&A by Business | ||||||
| Asset & Wealth Management | $185M-2.6% | $211M+38.8% | $215M-0.5% | $287M-10.3% | $190M-34.3% | |
| Global Banking & Markets | $291M+1.0% | $337M-8.9% | $270M-2.2% | $281M-0.7% | $288M-2.4% | |
| Platform Solutions | $19M-32.1% | $0— | $46M-64.3% | $50M+16.3% | $28M— | |
| Noninterest Expense by Business | ||||||
| Asset & Wealth Management | $3.08B+7.9% | $3.46B+18.8% | $3.3B+15.7% | $3.04B-0.1% | $2.86B-2.7% | |
| Global Banking & Markets | $7.01B+18.3% | $6.19B+17.7% | $5.73B+15.4% | $5.77B+13.7% | $5.92B+15.0% | |
| Platform Solutions | $335M-3.7% | $74M-19.6% | $423M-15.1% | $435M+3.3% | $348M-39.1% | |
| Other expenses by Business | ||||||
| Asset & Wealth Management | $1.25B+3.4% | $1.37B+7.1% | $1.31B+7.1% | $1.33B-0.9% | $1.21B-8.3% | |
| Global Banking & Markets | $3.59B+27.4% | $3.61B+15.3% | $3.17B+21.9% | $2.94B+9.7% | $2.81B+17.1% | |
| Platform Solutions | $175M-22.2% | $80M-14.0% | $289M-21.0% | $290M+5.5% | $225M-35.0% | |
| Provision for Credit Losses by Business | ||||||
| Asset & Wealth Management | $66M+267% | $0+100% | -$33M+69.7% | -$102M-75.9% | $18M+182% | |
| Global Banking & Markets | $248M+276% | $48M— | $86M+59.3% | $179M+425% | $66M— | |
| Platform Solutions | $1M-99.5% | -$2.18B-580% | $286M-36.7% | $307M-22.3% | $203M-16.8% | |
| Percentage of total net revenues by Geography | ||||||
| Americas | 60%-6.0pp | —— | 66%+3.0pp | 62%-2.0pp | 66%— | |
| Asia | 18%+7.0pp | 1%0.0pp | 13%0.0pp | 12%-1.0pp | 11%— | |
| EMEA | 22%-1.0pp | 1%— | 21%-3.0pp | 26%+3.0pp | 23%— | |
| Total net revenues by Geography | ||||||
| Americas | $10.42B+5.6% | $7.68B-15.6% | $10.02B+24.5% | $8.98B+10.5% | $9.87B+7.5% | |
| Asia | $3.04B+78.5% | $2.08B+4.3% | $2B+26.8% | $1.79B+6.9% | $1.71B+9.2% | |
| EMEA | $3.77B+7.9% | $3.69B+33.1% | $3.16B+2.8% | $3.81B+30.0% | $3.49B+0.6% | |
| Percentage of total pre-tax earnings by Geography | ||||||
| Americas | 63%-3.0pp | 4%0.0pp | 71%+11.0pp | 59%-6.0pp | 66%— | |
| Asia | 14%+6.0pp | —— | 7%-3.0pp | 10%0.0pp | 8%— | |
| EMEA | 23%-3.0pp | —— | 22%-8.0pp | 31%+6.0pp | 26%— | |
| Total pre-tax earnings by Geography | ||||||
| Americas | $4.12B+10.6% | $4.5B+15.0% | $3.81B+59.4% | $2.94B+16.5% | $3.73B+13.7% | |
| Asia | $903M+97.2% | $363M-39.3% | $408M-1.9% | $505M+25.9% | $458M0.0% | |
| EMEA | $1.46B0.0% | $990M+32.9% | $1.18B-0.6% | $1.51B+52.7% | $1.46B-2.6% | |
| Concentration risk percentage by Geography | ||||||
| Americas | 10,000%+7,500pp | 2,500%0.0pp | 2,500%0.0pp | 2,500%0.0pp | 2,500%0.0pp | |
| Asia | 900%+675pp | 225%+25.0pp | 225%+25.0pp | 225%+25.0pp | 225%+25.0pp | |
| EMEA | 2,200%— | —— | 100%-550pp | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Goldman Sachs Group break its business down?
- Goldman Sachs Group (GS) reports non-interest revenues by business across 3 parts — Asset & Wealth Management, Global Banking & Markets and Platform Solutions. Each is extracted from the segment footnotes and tracked over time.
- Where does Goldman Sachs Group's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Goldman Sachs Group's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
